A sum of money is deposited in a bank at the rate of 10% per annum simple interest . in how many years will the deposited money be doubled

A 10% interest would be added to the the principal amount after each year. So the interest would reach 100% i.e. equal to the principal amount in 10 years.

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jahshauushshaha jahshauushshaha · Answer 2 · 2020-07-02T13:40:01+02:00

jahshauushshaha jahshauushshaha

02-07-2020

Let the money be p and let it take n years for the money to double.
Now,

Interest= Amount-Principle= 2p-p=p
ATP,

p*10*n/100= p
n/10=1
n=10
Thus time required is 10 years

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A sum of money is deposited in a bank at the rate of 10% per annum simple interest . in how many years will the deposited money be doubled​

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A sum of money is deposited in a bank at the rate of 10% per annum simple interest . in how many years will the deposited money be doubled